China’s Lai Fung launches $2 billion medium-term note program

By William Gullotti

Buffalo, N.Y., Dec. 23 – Lai Fung MTN Ltd., a wholly owned subsidiary of Lai Fung Holdings Ltd., is listing a $2 billion medium-term note program (//B+), according to a notice with an appended offering circular on Thursday.

Notes issued under the Regulation S program will be guaranteed by the parent company.

HSBC is the arranger and dealer for the program.

Proceeds from program issuances will be used for general corporate purposes by the guarantor or its subsidiaries unless otherwise stated.

The 12-month program was listed on the Hong Kong Exchange effective Dec. 22.

Lai Fung Holdings is part of Hong Kong-based Lai Sun Group, a conglomerate.

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